The Motor and Equipment Manufacturers Association (MEMA)
and the Japan Automotive Manufacturers Association (JAMA) held the 21st
MEMA JAMA Liaison Committee Meeting on May 14, 2002 at the Washington
Duke Inn, Raleigh, North Carolina. The Liaison Committee Meeting was
co-chaired by the Chairman of JAMA Purchasing Committee Mr. Shoji Kondo
(Managing Director, Toyota Motor Corporation) and Chairman John Doddridge
(CEO, Intermet Corporation) of MEMA. In addition 14 delegates from JAMA
and 14 delegates from MEMA attended this meeting.

The MEMA JAMA Liaison Committee Meeting has been a key
forum since its conception in 1990, where the Japanese automotive industry
and the US auto parts industry would discuss industry matters of mutual
concern. The 21st Committee Meeting also discussed ways in which this
forum would function to address the pertinent needs of both industries
in the most effective manner.

It was also agreed that the next MEMA JAMA One-On-One
Business Conference would focus on the development of a new form of
partnerships with emphasis placed on the global markets of the JAMA
member companies. Based on this thought, the Business Conference would
take place in Japan for the first time, which is stated to take place
during late May of 2003 at Yokohama, Japan.

The MEMA JAMA Liaison Committee Meeting has been a major
instrument which has supported long-term growth of US automotive components
purchase by Japanese OEMs have taken place in almost every component
category. In the future, this meetings is expected to also be instrumental
in developing further mutual understanding as well as to further enhance
mutual business in areas such as reduced development lead time, enhance
global competitiveness and such.

The next Liaison Committee Meeting is slated to take
place in Yokohama during the next One-on-One meeting.